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neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't have to call it a tax, but it sure as hell will feel like a tax. >> you are giving me the money, i'm not forcing you to give me the money, it is in our shared interest to give me that. neil: you tell that to the wealthy countries, you think they will go along, and say she is absolutely right. >> if they were smart, they would. >> what do you say 10 years from now, are still a young woman i will belong retired, but, 10 years, and it has not done squat. you say oh, my god, it is all wrong. >> it won't, because investment will be worth a -- it will payoff. without these countries, adapting
neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't...
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did the comprehensive tax reform. clinton, welfare reform and balanced the budget for multiple years in the late 1990's. this is the perfect time to solve single biggest problem confronting our country and we are anxious to sit down and get the job done. \[inaudible question] >> dick durbin says as talks continue on of this booklet democrats must be open to painful topics, including medicare and medicaid. he was at the center for american progress for about 45 minutes. >> good morning, everyone. thank you for being here. i am the president of the center for american progress. we are thrilled to have senator durbin here today to talk about his views on the fiscal cliff. as we engage in this debate, i wanted to lay out a few principles that are critical as washington becomes obsessed with this set of issues. the elections have consequences. at c.a.p., we have argued that the issues that are really framing the fiscal debate and fiscal cliff were ones that were litigated in the election context. the president did not have
did the comprehensive tax reform. clinton, welfare reform and balanced the budget for multiple years in the late 1990's. this is the perfect time to solve single biggest problem confronting our country and we are anxious to sit down and get the job done. \[inaudible question] >> dick durbin says as talks continue on of this booklet democrats must be open to painful topics, including medicare and medicaid. he was at the center for american progress for about 45 minutes. >> good...
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Nov 27, 2012
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when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is already an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately the brain surgeons on capitol hill have never in next the tax for inflation. knight captures 4 million americans, many of which it would be a strain to consider wealthy. even if you had of -- led all the bush tax cut expired the revenue would only fund the government for eight half days. aid now have days. we need a better solution than that. the comments are based on the idea that there are no unintended consequences of government policy. people embrace changes, and the world keeps on spending. i believe that results would be catastrophic. capital flight to my jobs left unfilled, weaken the ec
when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is already an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately...
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Nov 27, 2012
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next year's taxes. not this year's taxes. you don't see that immediate impact. >> eliot: i'm joining joined by bernie sanders. welcome. >> thank you. >> eliot: do you think the hold has been broken. >> it does appear that is the case. after the election after poll after poll after poll some republicans are catching on to the idea that you can't get out of the deficit crisis just by cutting, cutting cutting and we all will have to raise taxes. >> eliot: of all the permutations that you've heard of the ideas being floated around, is there any deal that is likely to be agreed upon that you can vote for at this point ifin time. >> to be very honest, eliot i get a little bit nervous. i get nervous that instead of bringing back the old clinton era tax rates for the wealthyiest people 39.6, there may an way to wiggle out of that, i get nervous when i hear the president and others continue to talk about quote/unquote entitlement reform, which i'm afraid is just another word for cuts in medicare and medicaid, an
next year's taxes. not this year's taxes. you don't see that immediate impact. >> eliot: i'm joining joined by bernie sanders. welcome. >> thank you. >> eliot: do you think the hold has been broken. >> it does appear that is the case. after the election after poll after poll after poll some republicans are catching on to the idea that you can't get out of the deficit crisis just by cutting, cutting cutting and we all will have to raise taxes. >> eliot: of all the...
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but what i want to tell you is that ronald reagan agreed to tax reform that led to lower tax rates but also higher tax revenues from rich folks because it got rid of loopholes and deductions. >> stephen: you lower tax rates, revenues get higher. i already said that earlier. >> it's a complicated thing. >> stephen: it's not complicated lower/higher. >> you can get revenue gains from making it cleaner and fairer and more transparent and that's what republicans --. >> stephen: wait, simplifying the tax code, closing loopholes, is that not raising taxes? are those two things different? >> you have hit on a very tricky and important issue, stephen, which is that, yes, there's a way to raise average tax rates on high earners without raising the marginal tax rate on high earners. >> stephen: wow, i'm interested in what you just said and yet it's incrediblebly boring at the same time. (laughter) >> fair enough. i'm trying to say that you can industrial a 35% top rate and say wait a second, rich people are not able to take the same kind of deductions that take take under today's tax code. >> st
but what i want to tell you is that ronald reagan agreed to tax reform that led to lower tax rates but also higher tax revenues from rich folks because it got rid of loopholes and deductions. >> stephen: you lower tax rates, revenues get higher. i already said that earlier. >> it's a complicated thing. >> stephen: it's not complicated lower/higher. >> you can get revenue gains from making it cleaner and fairer and more transparent and that's what republicans --. >>...
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and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil: you think they will have an incredible deal by the end of the year? >>guest: i have told you before, i'm slightly optimistic. you cannot be more than that when it comes to negotiations. >>neil: since the ice cream bet you hedging because i think you know you got lucky and now you hedge a lot. you sound like a tv anchor. >>guest: i don't want do lose a bet but cut while i'm ahead and i am not irrationale. i don't think either the president or congress wants to become unpopular and congress now is at 18 percent again, do they want to go to system digits? i don't think so. >>neil: grover norquist was here and h
and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil:...
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rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and speakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what he said was that he supports the idea of revenue have economic growth and tax reform as part of getting revenue for the government. we need to do that. revenue today is at an all-time low because the economy is so bad. we have 10 million fewer people working than if we have a reagan-style recovery. obama's recovery has 10 million unemployed people. more jobs, more people working, more revenue. that is what boehner said a year ago, that he wanted to do in some sort of grand bargain, and that's what he said again. >> but when the speaker came out of the meeting at the white house, he said he was open to doing the tough things, putting mo
rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and speakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what he said was that he supports the idea of revenue have economic growth and tax reform as part of...
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pledge created by the president of americans for tax reform, grover norquist. but now some republicans are an ban toni donning the anti-tax pledge as fast as they abandoned -- what's his name? don't help me, don't help me.fas his name? don't help me, don't help me. rip flam bay. >> thousand about entertainment news. maybe angus t. jones doesn't want you to stop watching after all. he released an apology after claiming viewer shoes stop watching it. in his statement he says he has the high he is respect for all the people he works with and is thankful for the opportunities they have given to him. >>> all right. so former co-star charlie sheen has also decided to weigh in. knew that was coming, too. he says it is clear to him that the show is cursed. >>> and recently we reported that the onion named kim jong-un 2012's sexiest man alive. all right. the joke was apparently lost on china's communist party newspaper. they went on to run a 55 page photo spread of the leader c congratulating him for the title. you can see how this would be confusing. >> very confusing.
pledge created by the president of americans for tax reform, grover norquist. but now some republicans are an ban toni donning the anti-tax pledge as fast as they abandoned -- what's his name? don't help me, don't help me.fas his name? don't help me, don't help me. rip flam bay. >> thousand about entertainment news. maybe angus t. jones doesn't want you to stop watching after all. he released an apology after claiming viewer shoes stop watching it. in his statement he says he has the high...
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people who weren't getting any better off would rise from tax rate the tax rate tax rate so fast that over the course of that decade the nineteen seventies a typical earner someone earning the average wage would start at the beginning of the decade paying a twenty or twenty two percent rate and in the decade paying a forty percent marginal rate no surprise taxes were a very important issue for middle class americans in the seventy's and eighty's today eighty percent of americans pay more in payroll taxes than they do in income taxes unsurprisingly they don't respond to a message that is about income taxes and if you keep talking the most about income taxes you're talking to the most something that isn't relevant to their lives meanwhile their wages are stagnating in large part because the incredibly rising cost of health insurance devour wages before the employees get the last point on this there's we talked about this last time i was on your show before the crash in the in the two thousand during the expansion the cost of labor to employers rose by about twenty five percent but wages
people who weren't getting any better off would rise from tax rate the tax rate tax rate so fast that over the course of that decade the nineteen seventies a typical earner someone earning the average wage would start at the beginning of the decade paying a twenty or twenty two percent rate and in the decade paying a forty percent marginal rate no surprise taxes were a very important issue for middle class americans in the seventy's and eighty's today eighty percent of americans pay more in...
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it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country. >> do you want to comment a little bit about what you expect from the next six weeks? not even six weeks? however many weeks it is now between -- between now and the start of this booklet. working in the white house limits what you can say, but how you see his plan at between now and january? >> steve is exactly right, all the you are seeing a very concerted members of the house dig in on a no revenues. it is good to see many republicans saying yes. i cannot get into a lot of details -- i think it is unrealistic to expect next week we will
it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country....
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letting the wealthiest tax cuts, the tax cuts go back to the clinton era, will provide the revenue so that those cuts don't to be deep and hurt so badly. >> senator patty murray, the fight we have a long way to go, even though the calendar year ends on december 31st, thank you so much for your time. >> coming up, ambassador susan rice returns to the hill to meet with the new set of republican lawmakers. but are these meetings congressional inquiry or job interview? we will take a look just ahead. my doctor told me calcium is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. >>> after a trio of skeptical republican senators voiced their troubles with u.n. ambassador susan rice's answers yesterday another top gop lawmaker senator susan collins went there today. >> what troubles me so much is the benghazi attack in many ways echos the attacks on those embassies in 1998 when susan rice was head of the african region for our state department. >> we discuss the late
letting the wealthiest tax cuts, the tax cuts go back to the clinton era, will provide the revenue so that those cuts don't to be deep and hurt so badly. >> senator patty murray, the fight we have a long way to go, even though the calendar year ends on december 31st, thank you so much for your time. >> coming up, ambassador susan rice returns to the hill to meet with the new set of republican lawmakers. but are these meetings congressional inquiry or job interview? we will take a...
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and let taxes go up. does the many stream media after it right? grover norquist says absolutely not. i hear a lot, a lot, rumors that speaker boehner may be interested in cutting a deal to raise taxes as part of deal. are you hearing the same? >>guest: we heard that for a year in 2011 and it was not true. there are people who are hoping that the republican party will raise taxes to pay for obama's larger government. obama would like that to happen. the republicans won the house of representatives campaigning on a commitment to the ryan plan which reduces spending, reforms entitlements, and reforms taxes down, not up. so, obama got himself re-elected less strongly than four years ago and the republican house got itself re-elected? >>eric: what happens if republicans do cave and do sign on to higher taxes, what will you do? >>guest: well, the question is what the american people do if they see the republicans and democrats agreeing to raise taxes to pay if oh bum's bigger government then the republicans would be co-owners of what will be, unfortunat
and let taxes go up. does the many stream media after it right? grover norquist says absolutely not. i hear a lot, a lot, rumors that speaker boehner may be interested in cutting a deal to raise taxes as part of deal. are you hearing the same? >>guest: we heard that for a year in 2011 and it was not true. there are people who are hoping that the republican party will raise taxes to pay for obama's larger government. obama would like that to happen. the republicans won the house of...
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that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the government taking a dollar aaway, that dollar is not available to be invested. the return on that dollar is zero. for buffet to not understand if you take money out of the economy it's gone is a little bit odd. he's willing to write it. if he wants to write a check, he should write a check and shut up about what everyone else should do. >> the richest guy in america things he should make more taxes. >> then do so. >> fwri in policies that make all people do that. grover as always combative fun and good to talk with you. a man
that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the...
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. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do is take away things like your home mortgage deduction. you know who that hits, the middle class. of course! of course! they're going to take most of it from the middle class. you think they're going to give up tax cuts to the rich? this republican party? it's mainly a trick. nonetheless, grover norquist said not enough, nin nin nin is that too much. >> they need to focus on reforming government not raise taxes to pay for bigger government each year. it's not working. it's not easy. but throwing up your hands and saying maybe i'll throw up taxes instead of governing is not the way to go. >> cenk: you know raising taxes is also governing.
. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do...
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top 1% pay almost half of the income tax. when the president says it's bad to raise taxes on everyone, that would be taxmageddon, then says i want to raise it on 40% of the nation's income. i think that is a big mistake. it is better to leave the money in the hands of those who earned it. leave it in the private sector. >> i understand you don't want to raise the tax rates on anyone rich or anyone. what about capping deductions, eliminating loopholes, stuff like that. are you open to that? >> yes, if it is for tax reform. if we were to lower rates. for example, i think you could lower the top rate from 35 to 33 and get more revenue and get rid of some deductions at the same time. but i'm not going to vote to bring more revenue to washington. i want less money coming to washington, less money spent up here. that's how you get the my to grow. we're not going to have more economic growth if we send more money to washington. we'll have less economic growth. >> if all the republicans hold firm to that position you just spelled out
top 1% pay almost half of the income tax. when the president says it's bad to raise taxes on everyone, that would be taxmageddon, then says i want to raise it on 40% of the nation's income. i think that is a big mistake. it is better to leave the money in the hands of those who earned it. leave it in the private sector. >> i understand you don't want to raise the tax rates on anyone rich or anyone. what about capping deductions, eliminating loopholes, stuff like that. are you open to...
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anti-tax champion grover norquist last night told me he's keeping republicans to the no tax increase pledge they made decades ago. but should his party back away from that promise? joining me in his first interview since the election, reince priebus, chairman of the republican national committee. welcome back, mr. priebus. how are you? >> doing great, piers. how are you? >> you have been keeping your head below the paraput since the shellacking you guys took in the election. what is your reaction to the pretty poor defeat? >> well, i think that we got to look at everything that we're doing. i think that's what we have to do. i don't think you can draw any quick conclusions other than the fact that we lost and we know that. but i think in order to get back in the game, you've got to look at and do a full autopsy of what happened, what we did well, what we didn't do well, what we can do better in the next year with two governors' races coming up and two years later, then four years from now. so what we're going to do is we want to bring everyone together. leaders from across the countr
anti-tax champion grover norquist last night told me he's keeping republicans to the no tax increase pledge they made decades ago. but should his party back away from that promise? joining me in his first interview since the election, reince priebus, chairman of the republican national committee. welcome back, mr. priebus. how are you? >> doing great, piers. how are you? >> you have been keeping your head below the paraput since the shellacking you guys took in the election. what is...
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own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread the hysteria and--and if their plan goes through the austerity plan, they and their company and their bonuses are actually the only thing that is going to improve in this economy. >> eliot: as they have over the past couple of years. income disparity is worse and worse and incomes are going up. lloyd blankfein telling people that they people should not expect to work for 25 years and then retire for 30. i don't think he understands what social security is all about. >>> the hispanic caucus said no today on a repub
own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread...
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why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not wanting to raise axes. he personalizes it with me. lou: what about those folks like senator john mccain, senator lindsay gramm, senator chambliss the list goes on. i mea -- >> it doesn'go on. it does not go on. here's theood news. all the people who last week and said we might raise taxes under certain circumstaes with the same people who said that two years ago. and everyews dia outlet in the country has said the last week, would you like to be famous? would you like to be called important and influential? come to our tv station and announced u areefor tax increases and we will tell everyone you are impor
why don't you be responsible and raise taxes, put your finger prints on a tax increase to pay for our bigger government. republicans said no. harry reid has had a hissy fit for four years now, i'm happy the republicans would not raise taxes to pay for is bigger government. the problem is the american people don't want their taxes raised. lou: what i asked was how you feel? >> i am pleased as punch. harry reid, at haing a hissy fit at me, he's really mad at the ameican people for not...
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if you get rid of a tax loophole, that's raising taxes. he sent a letter to tom cobuln and said you can't do that because when you eliminate a tax loophole that's eliminating taxes and tom coburn sent a letter back sending him to pound sand and we need -- and i think representative ellison knows this better than i do. there are good republicans out there. >> no doubt. >> who i believe are not going to take the lead of this delaying and ofiscating leadership. you can name some of the house i'm sure, keith. so we've got to be willing to move this country ahead and know that that means entitlement cuts, spending cuts, and increasing revenues. >> they are not only good republicans, they are good politicians because when you look at grover's losers, candidates who sign, there's no type of pledge. so many lost. 24 republicans for the senate, 55 republicans for the house to sign that pledge lost. it doesn't even make good political sense anymore. >> you know, reverend, can i just add, i think when you call on members of congress to do right by th
if you get rid of a tax loophole, that's raising taxes. he sent a letter to tom cobuln and said you can't do that because when you eliminate a tax loophole that's eliminating taxes and tom coburn sent a letter back sending him to pound sand and we need -- and i think representative ellison knows this better than i do. there are good republicans out there. >> no doubt. >> who i believe are not going to take the lead of this delaying and ofiscating leadership. you can name some of the...
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increase tax top tax and he was bent over the way he was wrong. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars a quick take on audio but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how they always corazon republicans want to lower the rates that so you can't sell deductions if the rates are low the reality though is that during that period of time when the top tax rate topping them tax rate was ninety one seventy four percent from from one hundred thirty five one hundred thirty three nine hundred thirty three ok no until until the eisenhower here in the regular mr ok during that period of time you had you had c.e.o.'s who were not living in mansions they were you know and only one private well you had some people who were having rich you didn't have
increase tax top tax and he was bent over the way he was wrong. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars a quick take on audio but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how they...
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cuts expire everybody's taxes will go up including taxes on the rich and the very rich which means that have democrats proposed cutting taxes on the working class people while ignoring the new rates for the rich republicans can sign on and . vote for the legislation without violating their blood oath the multi-millionaire k. street lobbyists grover norquist all that goes nowhere as fast as it should which would be to roll back the reagan tax cuts it's a start moving america in a more egalitarian direction second most of the cuts to the pentagon budget are good things pentagon has lost over two trillion dollars that they can't account for it's a good guess you'll find a lot of it twenty bedroom mansion zone by defense contractors and lobbyist they're wearing this city washington d.c. and this nation needs a healthy and robust debate on our role as empire as president obama said during the campaign it's time to do some nation building right here at home and third by breaking out the social spending cuts that require public in particular the house of representatives to go on record on thei
cuts expire everybody's taxes will go up including taxes on the rich and the very rich which means that have democrats proposed cutting taxes on the working class people while ignoring the new rates for the rich republicans can sign on and . vote for the legislation without violating their blood oath the multi-millionaire k. street lobbyists grover norquist all that goes nowhere as fast as it should which would be to roll back the reagan tax cuts it's a start moving america in a more...
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Nov 27, 2012
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anytime you reform the tax code, you're going to want to do it in a way that stabilizes the tax base. you're creating a more reliable, sustainable base. that might mean some americans pay more, but that doesn't necessarily amount to a tax increase, what you're trying to do here is to stabilize the revenue stream. when you say it doesn't amount to a tax increase in the aggregate, that obviously is the center of this whole issue, especially when it comes to the pledge i know you signed with grover norquist. he said i'm okay with closing loopholes, but it has to be revenue neutral. but everyone knows to get a deal done, it can't be neutral. are you open to a deal that is not revenue neutral? >> what i'm open to is the idea of acknowledging the fact that we can bring in on average 18.5% of gdp through our revenue stream. that's what our tax system is capable of doing in the united states. that remains a constant. whether or top rate is at 35% as it is now or 75% as it was back in the early 1980s. that's a relative concept. what i want is for us to produce a steady stream of 18.5% rather t
anytime you reform the tax code, you're going to want to do it in a way that stabilizes the tax base. you're creating a more reliable, sustainable base. that might mean some americans pay more, but that doesn't necessarily amount to a tax increase, what you're trying to do here is to stabilize the revenue stream. when you say it doesn't amount to a tax increase in the aggregate, that obviously is the center of this whole issue, especially when it comes to the pledge i know you signed with...
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Nov 29, 2012
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one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just those over $250,000 will go back to the clinton rates. and we had the greatest prosperity under bill clinton. and everybody knows that. 23 million jobs, balanced budgets, all the rest. it's not going to hurt anything. the second thing, the automatic spending cuts. so my view is we can climb down that cliff by doing what the president says on taxes, bringing home the money from the wars, and stopping those automatic cuts. we're off the cliff. and then we get together with goodwill, right in january with the new senate and the new house, and we hammer out the long-range solutions to all this. >> i want to you listen to something that your colleague, pattie murray, from washington state said on alex wagner's show about this fiscal cliff and her attitude toward it. i want to you react to it. >> sure. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea
one is the bush tax cuts are expiring. we want to make sure they stay the same for 98% of the people and just those over $250,000 will go back to the clinton rates. and we had the greatest prosperity under bill clinton. and everybody knows that. 23 million jobs, balanced budgets, all the rest. it's not going to hurt anything. the second thing, the automatic spending cuts. so my view is we can climb down that cliff by doing what the president says on taxes, bringing home the money from the wars,...
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Nov 26, 2012
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but all of the other tax changes would be for next year's taxes, not this year's taxes. so you don't see that immediate impact. and then the stupid across-the-board cuts, congress should revisit that. we could find reductions of $100 billion that aren't across the board where you cut things that are useful and working well as much as things that are losers and go away. >> so under your theory and that of several ores, there's not as you referred to an economic calamity. but you and i both know for example wall street. we keep hearing these business leaders and so many others are nervous and we could see an immediate reaction there if some type of deal is not reached before january 1st. >> sure. the millionaires and billionaires, they've got a sweet deal now. they will make a lot of noise to say, raise my tax rates and i'll stop investing. of course, these are the same people who spent $400 million, $500 million to get a president hired that would cut their taxes. >> it would certainly affect it if the white house is saying you'll go off this cliff. you're looking at them
but all of the other tax changes would be for next year's taxes, not this year's taxes. so you don't see that immediate impact. and then the stupid across-the-board cuts, congress should revisit that. we could find reductions of $100 billion that aren't across the board where you cut things that are useful and working well as much as things that are losers and go away. >> so under your theory and that of several ores, there's not as you referred to an economic calamity. but you and i both...
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Nov 27, 2012
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i noticed mitch mcconnell's talked about tax rates. he's going to insist that tax rates not go any higher. you've got the mathematicians trying to raise the numbers. you can exact the rate throughout a person's entire income. they're looking for ways to finagle this. republicans are going to have to retreat and they're going to get a better deal before the end of the year than going into the new year. >> i want to ask you about that, what eleanor said about the end of the year rather than going into the new year. who benefits, if anyone, if they kick the can down the road, get a new congress. isn't there something to be said with this new democratic strength coming into the senate? it's a little stronger there. you have a stronger president picked up a few seats in the house. doesn't kicking the can down until february or march and do something that's maybe a bandaid now help the cost. >> it helps to a certain extent, but doesn't help the republican party all that much, because again, they're going to be blamed if we get a short-term d
i noticed mitch mcconnell's talked about tax rates. he's going to insist that tax rates not go any higher. you've got the mathematicians trying to raise the numbers. you can exact the rate throughout a person's entire income. they're looking for ways to finagle this. republicans are going to have to retreat and they're going to get a better deal before the end of the year than going into the new year. >> i want to ask you about that, what eleanor said about the end of the year rather than...
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Nov 26, 2012
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grover norquist's tax pledge could be history. and all eyes are now focusing on house republicans as talks to avoid going over that so-called fiscal cliff are picking up steam. joining me now, mark halperin, senior political analyst for "time" and msnbc and ruth marcus, columnist and editorial writer for the "washington post." to you, mark, what is your read about what we've been hearing the last couple of days about grover norquist, the pledge and how much running room the speaker does have to b negotiating a deal. >> i did a spit take with my fruity pebbles watching "morning joe" because eric cantor's tone was unlike anything i've ever heard. his office is saying oh, no, he's against raising marginal rates, but it's clear that in the scheme of things, the biggest piece is does john boehner have enough running room to strike a deal involving some new revenue. i still am of the belief that the vote in the house, which will be a cliff hanger no matter what happens amongst the leaders in the white house, it will be a tough vote. i t
grover norquist's tax pledge could be history. and all eyes are now focusing on house republicans as talks to avoid going over that so-called fiscal cliff are picking up steam. joining me now, mark halperin, senior political analyst for "time" and msnbc and ruth marcus, columnist and editorial writer for the "washington post." to you, mark, what is your read about what we've been hearing the last couple of days about grover norquist, the pledge and how much running room the...
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Nov 27, 2012
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once all the taxes go up, everybody is in a position to vote for a tax cut. so the nature of this may be such that republicans feel compelled to wait until after taxes have risen so that they can actually vote for a tax cut, which will be some sort of compromise. i don't think we should dismiss grover norquist and the power of this pledge and the threat to run primary campaigns against people so quickly. >> what you're talking about there, though, it sounds like getting out of the pledge on a technicality. if they wait for the rates to expire on their oath, then they don't have to vote for a rate increase. that really honoring the spirit of this commitment? >> i don't think it is. if that's what it takes to get people to reality, we've been waiting for many years for republican legislators to kind of recognize reality, and people thought, okay, the 2008 election. that will really sort of wake them up and think we have to compromise on issues of taxation. no it didn't. people thought maybe 2012 will do the trick. we see them edge from this. i think their minds
once all the taxes go up, everybody is in a position to vote for a tax cut. so the nature of this may be such that republicans feel compelled to wait until after taxes have risen so that they can actually vote for a tax cut, which will be some sort of compromise. i don't think we should dismiss grover norquist and the power of this pledge and the threat to run primary campaigns against people so quickly. >> what you're talking about there, though, it sounds like getting out of the pledge...
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equity. >> it was an issue of tax equity. it was very important to his base that he get the rates up. he's got to go to virginia where eric cantor has to face re-election in two years. >> he's wobbling. >> and you've got to keep the pressure on. because the cross-pressure on people like cantor and boehner. he's going to have to keep the pressure on them. >> there's a bunch of them out there, have a little rally. >> florida. he should be going to florida, ohio. these are states where republicans said they were going to win and they lost and the president has a strong argument to make right now which is, just fresh off his victory, this is what he didn't have in his first term. the fiscal cliff allows him to make an argument -- >> ladies, 47% of the country voted for country. only 1% gets the benefit of all of these tax cuts. >> i know. >> that's 46% that can steal from the other side. >> thank you. happy holidays. you're coming around this time of year. it's a nice time of year. >>> when we return, the republican assumption th
equity. >> it was an issue of tax equity. it was very important to his base that he get the rates up. he's got to go to virginia where eric cantor has to face re-election in two years. >> he's wobbling. >> and you've got to keep the pressure on. because the cross-pressure on people like cantor and boehner. he's going to have to keep the pressure on them. >> there's a bunch of them out there, have a little rally. >> florida. he should be going to florida, ohio....
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Nov 21, 2012
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sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know, that's not saying a lot sometimes because this whole debate around the budget has been like losing the football for awhile. but i actually think that you're seeing republicans moving in a way that they obviously didn't do, and you're seeing an understanding -- what i think is really important is there are a lot of people like bill crystal coming forward, governors are trying to make a play here. they represent whole states as well. so i think you're seeing a kind of break in this impass or fever that we haven't seen in the past. as you said, there's reasonable common ground to make i
sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know,...
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Nov 27, 2012
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america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand bargain where you're cutting medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and health care really addresses those issues versus wealthy folk paying a little more. >> david, if that's the case, if professor peterson is right, why then did the president when he was in the process of negotiating a grand bargain with speaker boehner, agree to suggest or even imply that, for example, the age of qualification for certain of these entitlements would go up? >> the president has decided that the way to deal with this overall, i'm not saying this is right or wrong, is that we have divided government which means we're going to try to take care of t
america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand bargain where you're cutting medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and...
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rates or effective tax rates. there's ways of doing that. >> reporter: with the clock ticking and markets getting nervous, talks begin again this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> nbc's mike viqueira reporting. >>> overseas to egypt where the country's newly elected leader has granted himself unchecked power sparking days of clashes and sending the country's stock market into a freefall. our reporter is in cairo with the very latest. ayman, good morning. >> reporter: good morning. egypt's stock market opened for a second straight day, and it plunged already by 4%. now, that's already a day after it lost 10%, and officials there had to stop trading just to prevent it from declining any further. that's the economic turmoil this country finds itself in. there are tons of other political and social unrest unfolding across the egyptian capital, cairo. a short while from now, mourners are going to be prayi
rates or effective tax rates. there's ways of doing that. >> reporter: with the clock ticking and markets getting nervous, talks begin again this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> nbc's mike viqueira reporting. >>> overseas to egypt where the country's newly elected leader has granted himself unchecked power sparking days of clashes and sending the...